TREZOR Review & Guide 2018

TREZOR Review & Guide 2018

Trezor - Does it Live Up to its Name?

If you read my Ledger review, then you’d know that the TREZOR was my first Bitcoin hardware wallet and that I’m a huge TREZOR fan. 

The Trezor is a great wallet. I’ve owned it since it came out and I haven’t encountered a single problem to date.

In terms of security, you won’t get better. And thats the most important feature when choosing a hardware wallet, right?

Overview

Trezor is a USB hardware wallet that can safely store, send and receive your Bitcoin and several other cryptocurrency. It is also capable of connecting with other popular wallets such as Copay & MyEtherWallet, and securing them (Huge advantage to Ledger). 

It was built with “simplicity” & “security” in mind, much like the Ledger. 

Trezor as a Bitcoin wallet is one of the most trusted and secure ways to store your assets. It allows you to enjoy Bitcoin storage and transactions without risk.

Originally targeted to Bitcoin enthusiasts who wanted to maintain a substantial sum of Bitcoin, it simply attracts those who wish for unrivaled security.

Featured in Forbes, Coindesk, Cointelegraph and CNN, the TREZOR definitely lives up to its name. 

Design

The actual device is rougly the size of an average USB stick (a little wider), making it convenient and discreet. It features 2 buttons used for controlling your device. 

TREZOR fits into the palm of your hand, and is tamper-proof, water-resistant and extremely durable. It also comes with a small strap you can attach to the device that you can put around your wrist or finger. 

Trezor is connected to your computer using a USB Micro-B cable (included in box).

Conclusion: Although the screen can seem small to some people, the device was created flawlessly. The TREZOR is very simple and surprisingly comfortable to use. The sleek design is a plus too.

Security

Trezor Security

TREZOR provides top-tier security for your Bitcoin and other cryptocurrencies. It protects against both physical and virtual theft making it a no-brainer for storing your digital assets. 

TREZOR is an HD wallet where you have full and sole control over the private keys. The entire wallet is backed up with a 24-word seed or phrase during setup. The seed is generated offline and displayed on the TREZOR’s screen, which protects it from any online threat. 

*Keep your 24-word seed in safe place! This is your entire wallet backup! 

You can even add an extra passphrase to the 24-word seed acting as the 25th word.

The 24-word seed or phrase can be used to recover your assets even when physically losing your Trezor! You can recover your entire wallet using another TREZOR or with other wallets (i.e. Electrum or Mycelium).

You are required to create a PIN during setup and this will be used every time you access your device or wish to make a transaction. Each incorrect guess increases the wait time by a power of two. Lets just say making 20 guesses would take 10 years!

Every transaction must be physically confirmed using your TREZOR (as shown above). This means that hackers cannot send anything from your wallet unless they have physical access to it. Even then, they would need to know your PIN! 

Conclusion: I’ll make it simple. Unless someone steals your wallet and manages to get the PIN code from you, your assets are safe. It is safe to use your TREZOR even on a compromised computer making it truly one of the most secure wallets out there. 

Privacy

TREZOR itself offers maximum privacy. They have no way of tracking any of your actions because there is no serial number. Every TREZOR is exactly identical when shipped out. You don’t need a username or password linking to any of your personal information using TREZOR.

Privacy is determined by the wallet you are using with your TREZOR so make sure you are using a reputable company.

*For the most private and ideal setup, use the Chrome extension to setup your TREZOR!

Supported Cryptocurrency

*Updated January 16th, 2018*

Here’s an updated list of all the Trezor-supported cryptocurrencies:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Ethereum (ETH)
  • Dash (DASH)
  • Zcash (ZEC)
  • Namecoin (NMC)
  • Dogecoin (DOGE)
  • ERC-20 Tokens (Ethereum Tokens) – Full list here

Conclusion

The TREZOR combines both simplicity and security in a level of its own.

With the €89 price tag, and all the money you’ve made in crypto, its a no-brainer! Just kidding, but honestly, if your serious about securing your assets, don’t think twice about buying the TREZOR!

I might sound a little redundant but I’ll tell you this with any hardware wallet.

If you own more than $500 worth of Bitcoin and other cryptocurrency, then buying the TREZOR or any reputable hardware wallet is worth it! 

I think about it as insurance. Heres Why – You may never experience a problem storing your Bitcoin online and you can tell your self: “Oh well, I only spent less than €100 on this TREZOR”. But if somehow your online wallet was hacked, no matter how much it was, you’d wish you bought yourself the TREZOR. Sounds like a smart idea to me.

TREZOR

€89
TREZOR
9.2

DESIGN

8.7 /10

EASE OF USE

9.2 /10

SUPPORT

9.5 /10

PRICE TAG

9.3 /10

FEATURES

9.2 /10

Pros

  • Top-Rated Security
  • Affordable (Worth the Investment)
  • Screen offers extra protection and verifcation
  • Sleek Design (Easy to carry around discreetly)
  • No Reported Hacks

Cons

  • €89 price tag might be out of budget for some people
  • Screen may seem small

TREZOR Guide - Unboxing & Setup

Heres a brief but really informative video to guide you while you set up your TREZOR:

Step 1. Connect to Computer

This is pretty self-explanatory. Your TREZOR comes with a USB to micro-USB cable. You can use this to connect your TREZOR to your computer.

Step 2. Download Plugin

Go to myTrezor and download the Chrome Extension. Yes you need Google Chrome. The TREZOR is compatible with MAC OS X, Windows, and Linux.

Step 3. Choose PIN

You will be prompted to choose a PIN for your TREZOR.

  • You don’t type the PIN in physically using your TREZOR, you click the numbers on a numerical pad displayed in your browser.
  • The position of each number changes randomly, so every time you enter the PIN, you will have to check your device for the layout.
  • This helps secure your device against hackers since it will be impossible for them to determine the numbers. 
TREZOR PIN

Step 4. Recovery Seed

You will receive a 24-word seed which you will need to write down.

  • The 24-word seed is used in case you lose or damage your TREZOR.
  • It will allow you to recover your assets on any TREZOR device!
  • This is the only backup that can be used so make sure you write it down more than once and secure it properly!
  • Never make a digital copy of your seed! 
Congratulations, your TREZOR is fully configured! You can now start sending and storing Bitcoin and other cryptocurrency!

TREZOR Guide - Adding Bitcoins

Once you’ve configured your TREZOR, it’s now ready to use! You should see a screen like this:

In “myTrezor”, click on “Account #1”. You should see an empty Transactions tab.

Now its time to safely transfer your Bitcoins or other Crypto into your TREZOR (in this case, Bitcoin).

Select the “Receive” tab to get your first TREZOR Bitcoin address. Its a string of letters and numbers (I’m assuming you know what it is already). If you’re transferring your Bitcoins from a mobile wallet, just scan the QR code shown next to the address.

Here’s an example of what you see on your display after clicking “Show on TREZOR”:

Confirmed the address? Cool, now you can safely send however many Bitcoins to your new TREZOR wallet!

TREZOR Guide - Confirming Received Payment

This is pretty simple, but I’m going to explain it anyways just to be thorough.

When someone sends you Bitcoin, you will see a green (incoming) transaction appear in the Transaction panel (like with most wallets).

You will see the transaction marked as “Unconfirmed”. Depending on the size of the transaction, your Bitcoin could takes a few minutes or 30-45 minutes. 

If you’re receiving this Bitcoin as a payment, then always wait for the transaction to show “Confirmed” before releasing your goods/services. 

Once the transaction is “Confirmed”, the Bitcoin is 100% yours and non-reversible! So no need to worry about a chargeback.

You will see a date and time of the completed transaction (as shown below).

*As always, I will update this Guide if anything new comes up. If you have any questions, feel free to comment below or go to our help desk!

Invest & Safe Trading

TREZOR

€89
TREZOR
9.2

DESIGN

8.7 /10

EASE OF USE

9.2 /10

SUPPORT

9.5 /10

PRICE TAG

9.3 /10

FEATURES

9.2 /10

Pros

  • Top-Rated Security
  • Affordable (Worth the Investment)
  • Screen offers extra protection and verifcation
  • Sleek Design (Easy to carry around discreetly)
  • No Reported Hacks

Cons

  • €89 price tag might be out of budget for some people
  • Screen may seem small
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